Milan halves their losses in the last balance sheet

Milan, co-leader of Serie A and rival of Atlético Madrid in the Champions League, halved their losses in the last balance, closed on June 30, 2021 and approved this Tuesday, with respect to the previous year, the entity reported in an official statement.

“Despite a season completely penalized by the effects of the pandemic, AC Milan closed the 2020-2021 balance with a significant reduction in losses (equal to 98.2 million euros) compared to the previous balance, thanks to the positive effect generated by sports performances, increased income and subsequent improvement in organizational expenses, “the note reads.

In particular, the accounts of the Milan, owned by the US fund Elliott, benefited from participation in the 2020-2021 Europa League, which allowed the club to enter “about 75 million euros” for audiovisual rights and 17 million thanks to advertising agreements.

On the other hand, the club reported that the coronavirus pandemic had a negative effect on 55 million euros in their boxes, especially due to the lack of income generated by ticket sales.

Milan, in which the Spanish Samu Castillejo and Brahim Díaz are active, continues with its growth process and this year has returned to the Champions League after seven years of waiting.